Cannabis Stocks Worth Watching – August 6th

Indivior, Turning Point Brands, and Incannex Healthcare are the three Cannabis stocks to watch today, according to MarketBeat’s stock screener tool. Cannabis stocks are shares of publicly traded companies engaged in the legal cannabis sector—ranging from cultivation and distribution to biotech research and ancillary services. They let investors gain exposure to the rapidly expanding marijuana market but also carry unique regulatory, political and volatility risks. These companies had the highest dollar trading volume of any Cannabis stocks within the last several days.

Indivior (INDV)

Indivior PLC, together with its subsidiaries, engages in the development, manufacture, and sale of buprenorphine-based prescription drugs for the treatment of opioid dependence and co-occurring disorders in the United States, the United Kingdom, and internationally. The company develops medicines to treat substance use disorders, serious mental illnesses, and opioid overdose.

NASDAQ INDV traded down $0.24 on Wednesday, reaching $21.56. The company’s stock had a trading volume of 1,668,964 shares, compared to its average volume of 1,760,554. The business has a 50-day moving average price of $15.25 and a 200 day moving average price of $12.03. Indivior has a 52 week low of $7.33 and a 52 week high of $22.06.

Turning Point Brands (TPB)

Turning Point Brands, Inc., together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.

NYSE TPB traded up $10.97 on Wednesday, reaching $92.11. The company’s stock had a trading volume of 298,840 shares, compared to its average volume of 255,542. The firm has a market cap of $1.65 billion, a PE ratio of 40.24 and a beta of 0.66. The business has a 50-day moving average price of $75.97 and a 200 day moving average price of $67.75. Turning Point Brands has a 52 week low of $36.00 and a 52 week high of $91.12. The company has a current ratio of 4.42, a quick ratio of 2.64 and a debt-to-equity ratio of 1.44.

Incannex Healthcare (IXHL)

Incannex Healthcare Inc., a clinical stage pharmaceutical development company, engages in the research, development, and sale of medicinal cannabinoid and psychedelic pharmaceutical products and therapies. It develops products for the treatment of obstructive sleep apnoea (OSA), traumatic brain injury (TBI) and concussion, lung inflammation (ARDS, COPD, asthma, bronchitis), rheumatoid arthritis, inflammatory bowel disease, anxiety disorders, addiction disorders, pain, and other indications.

Incannex Healthcare stock traded down $0.06 during trading hours on Wednesday, hitting $0.35. 37,113,684 shares of the stock were exchanged, compared to its average volume of 56,022,031. The stock has a market capitalization of $10.30 million, a P/E ratio of -0.29 and a beta of 7.67. Incannex Healthcare has a 12 month low of $0.08 and a 12 month high of $3.12. The business’s 50-day moving average is $0.38 and its two-hundred day moving average is $0.74.